BANKNIFTY: Ending diagonal nearing completion.

As I said yesterday, today wave (B) completed. Tomorrow will be a volatile and trending day. Most probably Wave (C) will be completed fully or 70%. When wave (C) completes, wave (5),,C,(B) of higher degrees also will be completed. Once these waves completes, wave(C) of 4 will be commenced. As the ending diagonal has developed as an expanding diagonal the fall will be heavy.
Comment: @kukku and @jaganath22
As per present structure I assume that wave c of wave (B) unfolding as abc, a being yesterday close, b today’s high and c in progress. At note (12:30) wave iv of c is in progress. Probably it will get support at 31550 out at the worst at 31450 and then wave (C) will commence.
Comment: It seems that wave (iv) has unfolded as zigzag abc. I have posted a new idea.


Will Bank Nifty go Up on Monday?
Ravi_VP rak99man
@rak99man, yes. See my another post today on bank nifty
Looks Wave theory did not worked
Ravi_VP ravispm
@ravispm, wave structure will definitely stick to it and work finely. Only thing is we have to correctly label it. At the same time we have to modify the corrective waves i.e., abc as it unfolds next. Wave (iv) extended as zigzag abc. I have posted a new idea. Kindly see it.
While trading waves always stick to price action.
ravispm Ravi_VP
@Ravi_VP, Thanks Ravi !!
I think strong support which will help price according to your analysis
Ok sir
Sir, any updates on the wave count...
Ravi_VP Kukku
@Kukku, we have to wait for some time. Market behaviour is like that. I think wave (B) may be extending. If it goes below 31450 view negated.
Kukku Ravi_VP

Thank you
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